The seminar was traditionally attended by officers of the OAO AFK Sistema Legal Department as well as heads/officers of Legal Services of AFK Sistema Group companies (ОАО MTS, ZAO Sistema-Telecom, OAO Comstar-OTS, ОАО MGTS, ОАО Concern Citronics, ОАО ROSNO, ZAO Sistema-Gals, ОАО CITRONICS, ZAO INVEST-SVYAZ-HOLDING etc.). The total number of company representatives made 40.
Within the framework of the 1st seminar session devoted to single questions concerning new Anti competition law, Ms. Julia Prokopenko and Ms. Alexandra Vasuhnova appeared being the Market practice representatives.
Ms Julia’s appearance was devoted to the competition law innovations with regard to definition of term ‘primary group’. During the appearance themes concerning definition criteria in accordance with article 9 of Anti competition law, were given. Additionally the subject concerning Federal Antimonopoly Service relation arrangement and form in accordance with the law was touched. The basic speech idea was to provide the audience with information concerning subjective perception and exercise of the new law norms in practice by the FAS RF experts.
Later Alexandra Vasuhnova told present company about the state administration features in the field of economical concentration, namely about innovations approved by the FAS RF.
During the 2nd session devoted to the legal changes concerning joint-stock companies including dealing in large stocks of shares the Corporate Law Practice representatives delivered their speeches. Ms. Anna Hudanova and Mr. Alexander Chernishev introduced speeches regarding dealing in large stocks of shares and minority shareholder squeeze-out working regulations.
During her speech Ms Hudanova displayed the basic issues which the investors encounters while M&A transaction structuring which emerges with reference of necessity to respect the new regulations concerning the open joint-stock companies’ stocks of shares turnover. Furthermore, a range of alternatives concerning new law regulations exercising in behalf of transaction as well as probable methods to avoid the necessity of extra procedures stipulated by the joint-stock companies legislation, were suggested to the audience.
In his turn Mr. Alexander Chernishev pointed out the main distinctions among the minority shareholder squeeze-out methods. Additionally he stated probable preliminaries prior to the squeeze-out process. The structure and necessity of the latters depends on the decided squeeze-out method as Mr. Chernishev stated.
The closing speech of Andrey Korelskiy was devoted to latest alterations in legislation and judicial practice related to contestation of regulatory authority decrees in joint-stock companies. A discussion arose on disputable points existing both at the theoretical level and in the court practice. Besides, latest alterations were noted in the position of the Supreme Arbitration Court of the Russian Federation concerning application of corporate legislation provisions by commercial entities. Attendees of the meeting also had an opportunity to discuss the judicial review project prepared by the Supreme Arbitration Court of the Russian Federation for contestation of decrees made by regulative authorities as well as the government bill on introducing alterations in a number of corporate legislation statutory instruments meant for bringing down the existing practice of so-called raider takeovers.
